One of LeBron James' business partners is advising a group of investors interested in creating an international basketball league to compete with the NBA.
Report from Bloomberg He linked Maverick Carter to a group seeking to raise $5 billion from private sources.
UBS Group AG and Evercore Inc. are participating in financing support.
The league is made up of six men's and women's teams, and matches are held in eight cities around the world.
Bloomberg reports that the league will spend two weeks in each city, similar to how F1 operates, with races held in different cities during the racing season.
Skype co-founder Jeff Prentiss, former Facebook executive Grady Barnett and investment firm SC Holdings have also been rumored as potential league backers.
Front Office Sports Confirmed The Bloomberg report added that James was not involved in the effort.
It's unclear if or when a potential league will be announced.
James and Carter are childhood friends and co-founded SpringHill Company in 2020.
Together they also launched the UNINTERRUPTED brand.
